Paragon Bank Mortgage Rates, Fees & Info

Memphis, TN

LEI: 549300TGWKRP2P13MO72

Tax ID: 20-1022853

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Paragon Bank is a smaller bank specializing in Home Purchase and Refi loans. Paragon Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Memphis, Wilmington, Myrtle Beach, Oxford, and Atlanta among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Paragon Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

322

Origination Dollar Volume (All Markets)

$98,330,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 228 $47,290,000 $207,412 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 33 $21,715,000 $658,030 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $9,655,000 $1,931,000 $0 0.00%
Oxford, MS (FHA|USDA|VA) 13 $3,975,000 $305,769 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $1,175,000 $391,667 $0 0.00%
Albemarle, NC (FHA|USDA|VA) 1 $1,175,000 $1,175,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,060,000 $530,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $950,000 $475,000 $0 0.00%
Morehead City, NC (FHA|USDA|VA) 2 $930,000 $465,000 $0 0.00%
Jasper, AL (FHA|USDA|VA) 1 $905,000 $905,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 3 $845,000 $281,667 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $775,000 $775,000 $0 0.00%
Outside of Metro Areas 4 $710,000 $177,500 $0 0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $710,000 $355,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 1 $625,000 $625,000 $0 0.00%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $460,000 $230,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
Eufaula, AL-GA (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
Bozeman, MT (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Corinth, MS (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Wilson, NC (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Clarksdale, MS (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Paragon Bank's top markets include Memphis, Wilmington, Myrtle Beach, Oxford, and Atlanta among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 320 $97,790,000 $305,594 $0 0.00%
    FHA 2 $540,000 $270,000 $0 0.00%

    For 2022, Paragon Bank's most frequently originated type of loan was Conventional, with 320 originations. Their 2nd most popular type was FHA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 242 $64,010,000 $264,504 $0 0.00%
    Refi 46 $23,950,000 $520,652 $0 0.00%
    Cash Out Refi 34 $10,370,000 $305,000 $0 0.00%

    For 2022, Paragon Bank's most frequently cited loan purpose was Home Purchase, with 242 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 322 $98,330,000 $305,373 $0 0.00%

    For 2022, Paragon Bank's most frequently cited loan duration was Other, with 322 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 97 $27,195,000 $280,361 $0 0.00%
    $100k-200k 88 $12,440,000 $141,364 $0 0.00%
    $100,000 or less 70 $3,680,000 $52,571 $0 0.00%
    $400k-600k 41 $19,235,000 $469,146 $0 0.00%
    $600k-1MM 15 $10,985,000 $732,333 $0 0.00%
    $1MM+ 11 $24,795,000 $2,254,091 $0 0.00%

    2022 saw Paragon Bank place emphasis on $200k-400k loans with 97 originations, totaling $27,195,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 53 $29,565,000 $557,830 $0 0.00%
    $100k-150k 37 $10,665,000 $288,243 $0 0.00%
    $150k-250k 36 $13,180,000 $366,111 $0 0.00%
    $50k-75k 21 $4,105,000 $195,476 $0 0.00%
    $75k-100k 15 $4,505,000 $300,333 $0 0.00%
    $50k or less 13 $2,035,000 $156,538 $0 0.00%

    Paragon Bank lent most frequently to those with incomes in the $250k+ range, with 53 originations. The second most popular income band? $100k-150k, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 322 $98,330,000 $305,373 $0 0.00%

    Paragon Bank lent most frequently to those with DTI ratios of Exempt%, with 322 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 156 $57,380,000 $367,821 $0 0.00%
    Not applicable 130 $31,900,000 $245,385 $0 0.00%
    Black 22 $4,690,000 $213,182 $0 0.00%
    Not provided 7 $2,095,000 $299,286 $0 0.00%
    Asian 6 $1,800,000 $300,000 $0 0.00%
    Asian Indian 1 $465,000 $465,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.46%

    Paragon Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    93.48%

    Paragon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 322 $98,330,000 $305,373

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    322 $98,330,000 $305,373